CorVel Corporation (CRVL) Balance Sheet
CRVL balance sheet, FY2026
March 31, 2026 · U.S. dollars$643.0M assets = $248.8M liabilities + $394.2M equity
Both columns are drawn to the same scale: what CRVL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CRVL financial health
Descriptive bands, not a rating. Fiscal FY2026.
CRVL balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $235.4MFY2017 | $643.0MFY2026 | +11.8%/yr | |
| Total liabilities | $96.7MFY2017 | $248.8MFY2026 | +11.1%/yr | |
| Shareholders’ equity | $138.6MFY2017 | $394.2MFY2026 | +12.3%/yr | |
| Cash & short-term investments | $28.6MFY2017 | $233.1MFY2026 | +26.2%/yr | |
| Total debt | $5.7MFY2019 | $28.1MFY2026 | +25.6%/yr | |
| Net cash (debt) | $86.0MFY2019 | $205.0MFY2026 | +$119.0M | |
| Working capital | $38.8MFY2017 | $234.2MFY2026 | +$195.4M | |
| Book value per share | $7.08FY2017 | $7.64FY2026 | +0.8%/yr | |
| Debt / equity | 0.03FY2019 | 0.07FY2026 | +0.04 | |
| Shares outstanding | 19.6MFY2017 | 51.6MFY2026 | +11.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CRVL assets
CRVL liabilities and equity
CRVL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CRVL balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $233.1M | $170.6M | $105.6M | $71.3M | $97.5M | $139.7M | $83.2M | $91.7M | $55.8M | $28.6M |
| Cash & equivalents | $233.1M | $170.6M | $105.6M | $71.3M | $97.5M | $139.7M | $83.2M | $91.7M | $55.8M | $28.6M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $101.3M | $104.1M | $97.1M | $81.0M | $82.6M | $64.7M | $65.8M | $71.3M | $64.9M | $62.8M |
| Inventory | $0 | $0 | $0 | −$91.32B | $0 | $2 | $1 | −$7.2M | −$7.1M | −$4.9M |
| Other current assets | $127.9M | $112.0M | $99.6M | $91.41B | $84.9M | $64.5M | $60.0M | $59.6M | $49.7M | $42.4M |
| Total current assets | $462.3M | $386.7M | $302.2M | $243.8M | $265.0M | $268.9M | $209.0M | $215.5M | $163.3M | $128.9M |
| Property, plant & equipment (net) | $139.1M | $112.9M | $110.0M | $110.5M | $111.3M | $115.9M | $166.6M | $62.0M | $69.4M | $63.0M |
| Goodwill & intangible assets | $37.1M | $37.3M | $37.6M | $38.1M | $38.5M | $38.9M | $39.4M | $39.8M | $40.2M | $40.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.1M | $0 |
| Other non-current assets | $4.5M | $9.2M | $4.9M | $1.6M | $481,000 | $958,000 | $1.3M | $756,000 | $21,000 | $2.8M |
| Total assets | $643.0M | $546.0M | $454.7M | $393.9M | $415.2M | $424.8M | $416.3M | $318.0M | $274.0M | $235.4M |
| Liabilities | ||||||||||
| Accounts payable | $24.3M | $15.4M | $16.4M | $15.1M | $14.1M | $12.4M | $15.1M | $9.9M | $11.8M | $13.9M |
| Short-term debt | $7.4M | $8.1M | $8.9M | $9.9M | $13.3M | $12.8M | $13.2M | $5.7M | — | — |
| Deferred revenue | $147.9M | $132.3M | $118.1M | $107.0M | $95.6M | $79.0M | $66.6M | $62.2M | $50.8M | $42.6M |
| Total current liabilities | $228.1M | $204.0M | $184.5M | $167.9M | $171.4M | $162.5M | $133.7M | $116.9M | $98.0M | $90.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $28.1M | $28.1M | $31.4M | $23.9M | $43.1M | $41.9M | $98.3M | — | — | — |
| Other long-term liabilities | $20.7M | $20.0M | $22.5M | $23.9M | $31.5M | $41.9M | $92.9M | $6.3M | $4.8M | $6.7M |
| Total liabilities | $248.8M | $224.0M | $207.0M | $191.7M | $202.9M | $204.4M | $226.5M | $123.2M | $102.8M | $96.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $5,000 | $5,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
| Retained earnings (deficit) | $1.01B | $903.1M | $807.9M | $731.7M | $665.3M | $598.9M | $552.5M | $505.2M | $458.5M | $422.8M |
| Treasury stock | — | — | — | — | — | — | −$531.8M | −$466.2M | −$431.0M | −$419.8M |
| Accumulated other comprehensive income | — | — | — | $0 | — | $0 | −$167.3M | −$178.3M | −$161.4M | −$143.7M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $394.2M | $322.0M | $247.6M | $202.2M | $212.4M | $220.4M | $189.7M | $194.8M | $171.2M | $138.6M |
| Key figures | ||||||||||
| Total debt | $28.1M | $28.1M | $31.4M | $33.8M | $43.1M | $54.7M | $98.3M | $5.7M | — | — |
| Net cash (debt) | $205.0M | $142.5M | $74.2M | $37.6M | $54.4M | $85.1M | −$15.1M | $86.0M | — | — |
| Working capital | $234.2M | $182.7M | $117.7M | $75.9M | $93.6M | $106.5M | $75.3M | $98.6M | $65.3M | $38.8M |
| Tangible book value | $357.2M | $284.7M | $210.0M | $164.1M | $173.9M | $181.5M | $150.4M | $155.0M | $130.9M | $98.0M |
| Book value per share | $7.64 | $6.19 | $4.76 | $3.83 | $3.91 | $11.89 | $10.23 | $10.25 | $8.99 | $7.08 |
| Shares outstanding | 51.6M | 52.0M | 52.0M | 52.8M | 54.4M | 18.5M | 18.5M | 19.0M | 19.0M | 19.6M |
| Current ratio | 2.03 | 1.90 | 1.64 | 1.45 | 1.55 | 1.66 | 1.56 | 1.84 | 1.67 | 1.43 |
| Quick ratio | 1.47 | 1.35 | 1.10 | 0.91 | 1.05 | 1.26 | 1.11 | 1.39 | 1.23 | 1.02 |
| Debt / equity | 0.07 | 0.09 | 0.13 | 0.17 | 0.20 | 0.25 | 0.52 | 0.03 | — | — |
| Equity / assets | 61.3% | 59.0% | 54.5% | 51.3% | 51.1% | 51.9% | 45.6% | 61.3% | 62.5% | 58.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $255.9M | $233.1M | $230.0M | $207.5M | $202.0M | $170.6M | $162.9M | $138.3M | $131.9M | $105.6M | $107.0M | $91.7M |
| Cash & equivalents | $255.9M | $233.1M | $230.0M | $207.5M | $202.0M | $170.6M | $162.9M | $138.3M | $131.9M | $105.6M | $107.0M | $91.7M |
| Receivables | $111.0M | $101.3M | $102.1M | $104.9M | $102.0M | $104.1M | $106.2M | $102.4M | $97.7M | $97.1M | $92.7M | $86.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $13.5M | $1 | $0 | $0 | $0 |
| Other current assets | $137.9M | $127.9M | $131.8M | $121.9M | $117.6M | $112.0M | $114.0M | $109.1M | $103.6M | $99.6M | $94.7M | $103.2M |
| Total current assets | $504.8M | $462.3M | $463.9M | $434.3M | $421.6M | $386.7M | $383.2M | $363.3M | $333.3M | $302.2M | $294.4M | $281.9M |
| Property, plant & equipment (net) | $142.5M | $139.1M | $133.6M | $130.4M | $129.0M | $112.9M | $113.2M | $112.9M | $110.1M | $110.0M | $110.3M | $112.1M |
| Goodwill & intangible assets | $37.0M | $37.1M | $37.1M | $37.2M | $37.2M | $37.3M | $37.3M | $37.4M | $37.5M | $37.6M | $37.7M | $37.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $5.4M | $4.5M | $10.2M | $9.9M | $9.6M | $9.2M | $5.1M | $4.9M | $5.3M | $4.9M | $2.6M | $2.3M |
| Total assets | $689.7M | $643.0M | $644.8M | $611.7M | $597.4M | $546.0M | $538.8M | $518.6M | $486.2M | $454.7M | $445.0M | $434.1M |
| Liabilities | ||||||||||||
| Accounts payable | $20.3M | $24.3M | $25.9M | $19.1M | $21.2M | $15.4M | $14.6M | $13.7M | $12.4M | $16.4M | $14.9M | $15.1M |
| Short-term debt | $7.6M | $7.4M | $7.3M | $7.3M | $7.7M | $8.1M | $8.4M | $8.8M | $8.7M | $8.9M | $9.3M | $9.5M |
| Deferred revenue | $160.0M | $147.9M | $30.9M | $30.9M | $138.4M | $132.3M | $130.2M | $139.1M | $124.2M | $118.1M | $110.7M | $119.3M |
| Total current liabilities | $260.1M | $228.1M | $250.4M | $230.3M | $235.2M | $204.0M | $216.7M | $212.9M | $200.6M | $184.5M | $188.4M | $186.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $28.4M | $28.1M | $25.9M | $25.9M | $27.4M | $28.1M | $29.5M | $31.7M | $30.4M | $31.4M | $32.4M | $25.0M |
| Other long-term liabilities | $20.8M | $20.7M | $18.6M | $18.6M | $19.7M | $20.0M | $21.2M | $22.9M | $21.7M | $22.5M | $23.1M | $25.0M |
| Total liabilities | $280.8M | $248.8M | $269.1M | $248.9M | $254.9M | $224.0M | $237.9M | $235.8M | $222.3M | $207.0M | $211.5M | $211.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
| Retained earnings (deficit) | $1.05B | $1.01B | $982.4M | $958.2M | $930.3M | $903.1M | $876.7M | $852.9M | $829.5M | $807.9M | $788.5M | $771.4M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | — | $0 | — |
| Total shareholders' equity | $408.9M | $394.2M | $375.7M | $362.8M | $342.5M | $322.0M | $300.9M | $282.8M | $263.9M | $247.6M | $233.5M | $222.6M |
| Key figures | ||||||||||||
| Total debt | $28.4M | $28.1M | $44.6M | $44.5M | $27.4M | $28.1M | $29.5M | $31.7M | $30.4M | $31.4M | $32.4M | $34.6M |
| Net cash (debt) | $227.5M | $205.0M | $185.5M | $163.0M | $174.6M | $142.5M | $133.4M | $106.6M | $101.5M | $74.2M | $74.6M | $57.2M |
| Working capital | $244.7M | $234.2M | $213.5M | $203.9M | $186.4M | $182.7M | $166.4M | $150.5M | $132.7M | $117.7M | $106.0M | $95.4M |
| Tangible book value | $371.9M | $357.2M | $338.6M | $325.6M | $305.3M | $284.7M | $263.5M | $245.3M | $226.3M | $210.0M | $195.8M | $184.7M |
| Book value per share | $8.03 | $7.69 | $7.28 | $7.01 | $6.60 | $6.19 | $5.78 | $5.44 | $5.08 | $4.76 | $4.49 | $4.28 |
| Shares outstanding | 50.9M | 51.3M | 51.6M | 51.7M | 51.9M | 52.0M | 52.0M | 52.0M | 51.9M | 52.0M | 52.0M | 52.0M |
| Current ratio | 1.94 | 2.03 | 1.85 | 1.89 | 1.79 | 1.90 | 1.77 | 1.71 | 1.66 | 1.64 | 1.56 | 1.51 |
| Quick ratio | 1.41 | 1.47 | 1.33 | 1.36 | 1.29 | 1.35 | 1.24 | 1.13 | 1.14 | 1.10 | 1.06 | 0.96 |
| Debt / equity | 0.07 | 0.07 | 0.12 | 0.12 | 0.08 | 0.09 | 0.10 | 0.11 | 0.12 | 0.13 | 0.14 | 0.16 |
| Equity / assets | 59.3% | 61.3% | 58.3% | 59.3% | 57.3% | 59.0% | 55.8% | 54.5% | 54.3% | 54.5% | 52.5% | 51.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 22, 2026); data from EODHD.
CRVL financial position
At the end of fiscal 2026 (March 31, 2026), CorVel had total assets of $643.0 million (up 17.8% from a year earlier), total liabilities of $248.8 million and shareholders' equity of $394.2 million. It held $233.1 million in cash and short-term investments against $28.1 million of debt, a net cash position of $205.0 million. Its current ratio was 2.03. In the latest quarter (ended June 30, 2026) total assets were $689.7 million and equity $408.9 million.
Related: CRVL income statement, CRVL cash flow statement, CRVL key metrics. See the CRVL stock overview for the latest quote and news.
CRVL balance sheet FAQ
What are CorVel's total assets?
CorVel reported total assets of $643.0 million at the end of fiscal 2026 (March 31, 2026), compared with $546.0 million a year earlier.
How much debt does CorVel have?
CorVel had $28.1 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.07.
How much cash does CorVel have?
CorVel held $233.1 million in cash and short-term investments at the end of fiscal 2026; with $28.1 million of debt that is net cash of $205.0 million.
What is CorVel's book value?
CorVel's shareholders' equity (book value) was $394.2 million at the end of fiscal 2026, or $7.64 per share.
What is CorVel's current ratio?
CorVel had current assets of $462.3 million and current liabilities of $228.1 million, a current ratio of 2.03 (it can cover its short-term obligations).
How much goodwill does CorVel have?
CorVel carried $37.1 million of goodwill and intangible assets, 5.8% of total assets, at the end of fiscal 2026.